Case Study of Economic Hitmen of 2018 Pakistan

[To understand the context of this post, please read At What Cost! Why Compute Economic Costs of Faulty Political Decisions]

DoN (Doctrine of Necessity) Godfather Saqib Nisar along with NAB and IMF led IK government as Economic Hitmen: Their witch hunt of greatly respected Dr Saeed Akhtar PKLIC, Dr Ismail Shah PTA, Dr Umar Saif PITB, Engr Imran Shaikh PSO and others represent very carefully selected targets to create a mass disillusionment of leading professionals in public and private sector with the objective of stultifying the fundamentals of infrastructure growth and maturity.

• Dr Saeed Akhtar was hit because of his leadership in health sector, his great respect in medical professionals and his deep links in the philanthropic expatriate resourceful community of doctors in USA and West. See Targeting of PKLI. His treatment resulted in scores of qualified doctors and surgeons who had come from  USA to return back. Contrast this destruction of Lahore institute with Sindh Government's Gambat Institute's success where hundreds of transplants are being done. 
• Dr Ismail Shah was selected as a target to cripple and stultify the technical bureaucracy and highly qualified professionals in private sector working in telecommunications sector. This was done in a coordinated planned manner as seen from the various cases initiated on a single day as reported in  August 2018 Dawn  report.
• Dr Umar Saif was selected as a target based on his excellent e-Government initiatives in public infrastructure for e-stamps, e-property registrations, e-monitoring of public education schools, teachers as well as public health and hospitals and e-tracking of medicines supply chain, dengue control dashboard connected with all government hospitals providing instantaneous figures, etc. Each such initiative was instrumental in providing efficiency in government and improving service delivery, and was being acquired and implemented in other provinces. He had to step down unceremoniously as his vision for increasing software exports and increasing government efficiency had to be stifled. 
• Engr Imran Shaikh was selected because of his great respect in engineering sector and his commendable achievements. His humiliation at the hands of DoN PCO Judge Saqib Nisar was a perfect hit to demoralize the energy sector professionals who tirelessly worked to overcome the severe energy shortages of 20 hours load shedding in 2013 to energy surplus in 2018

• Economic hit on CPEC
• Opening salvo against CPEC was made by Razak Dawood immediately after the assumption of IK's government which laid the foundation of slowing down the entire economy. 
• Despite his denials even in August 2020 CPEC has grinded down to a virtual standstill as per his unguarded comments as reported in FT. 
• CPEC is now mired in neocolonialism and Pakistan-US relations arm twisting . This may very well be the reason for "mujhe kiyon nikala".
• Economic hit on infrastructure of roads, motorways, Metropolitan mass transit......
• IK stated policy on infrastructure and roads was to invest on human development. He could not understand why investment on infrastructure is necessary. He inflicted the damage to economy by stopping or slowing all infrastructure projects. Too little too late, it is now belatedly in 2021 that IK had been finally convinced by Shaukat Tareen to restart Sukkur-Hyderabad motor way and three other motorways. 
• NAB's witch hunt of Multan Metro immediately after IK's government was installed eventually came to end dismally when China came down hard on Pakistan absolving the management of the project from any wrong doing. This was a huge embarrassment for the NAB effort. This witch hunt was instrumental in slowing down the CPEC project and creating a negative energy. 
• NAB witchhunt against the performing bureaucrats. Targeted the bureaucrats who were instrumental in completing development projects in record time. Threatening of FBR officers. Threatening of bureaucrats. Massive transfers of bureaucracy. 
• Economic hit on large scale manufacturing through the narrative of castigating and destroying the base of 80% revenues.....
• Economic hit on infrastructure of micro and small enterprises of shanty shops, hawkers, پتھارے,....
• Economic hit on infrastructure of philanthropic social service in the absence and abdication of government social services such as......
• Promise to commit suicide but not go to IMF. Asad Umar in deep neogotiations. Replaced. Development of a culture of urgency as if the world is falling down. Crescendo of voices and pressures to sign the deal. Imported from World Bank, Dr Abdul Hafeez Shaikh who was the minister during Musharraf and finance minister in Zardari tenure. Import of Dr Raza Baqir from IMF who had devastated Egypt Economy measure by measure. Fired Younish Dhaga Finance Secretary who wanted to do hard negotiations with the IMF. Signing of the ignominous contract. Autonomy to SBP. Security of tenure of SBP governor.Immunity of SBP Governor from any future litigations. Petrol price to be equal to $rate. Massive devaluation. (Had never caused increase in exports, had always increased the costs of input, electricity, gas). Restriction on government to borrow from sbp. Only to borrow from the commercial banks. Reduction of development expenditure. 

*PTI Government Completes 200 Days*:

1- More than 400 development projects have been shut down.

2- Gas tariffs have increased 143%"...

3- Electrify tariffs for domestic users increased by 300%

4- Decrease of USD 1.75 billion in foreign reserves.

5- New taxes worth PKR 178.00 billion imposed in mini budget.

6- Internal and external debt volume increased by PKR 2,000.00 billion.

7- Inflation gone up to 8.2% -- almost more then double from last year.

8- Policy rate gone up to 10.25% from 5.75% last year.

9- Tax revenue growth worst in 20 years.

10- GDP growth in a fast decline with large scale manufacturing in negative, agriculture growth almost stagnant.

11- Fiscal deficit widens significantly compared to last year. Expenditure also significantly goes up.

12- Circular debt gone up from 1.1 tr to 1.6 tr --fastest increase in our history.

14- At the end of June, PTI govt will post the highest fiscal deficit (amount wise) in our history.

15- In spite of massive devaluation, exports increased only 2% in last 8 months. Compare that with 13% increase in last fiscal year.

16- Regarding debt increases, it’s the fastest accumulation in our history in the last 7 years

17- Unemployment is rising by the day and it is expected that by fiscal year end, 600,000 Pakistanis will have lost their jobs.

18- Stock Market considered as an the indicator of any economy has almost crashed n dead with no movement n no investment coming., comparing it to last 5 years when it was the Top Performing market of the world.

19- Most alarmingx news is that due to poor economy, MORE THAN 4 MILLION PAKISTANIS WILL GO BELOW POVERTY LINE.

Even as PTI supporters we feel embarrassed with these numbers. Gone completely out of its narrative regarding its commitment of 1 crore jobs and 50 lac housing units.....

May Allah Almighty have mercy on this nation.....!!!!